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Investor Alleges William Loberg Recommended Unsuitable Investments

William Loberg (CRD #: 4418093), a broker registered with Cetera Advisor Investments, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on June 15, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On May 2, 2023, an investor alleged that William Loberg made unsuitable investment recommendations, resulting in losses. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in an investor’s profile, including the following characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

Background Information

William Loberg has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

William Loberg is a registered broker in 11 states and a registered investment adviser in North Dakota.

He has also worked for the following firms:

  • Farmers Financial Solutions (CRD#:103863)
  • Invest Financial Corporation (CRD#:12984)
  • Edward Jones (CRD#:250)

Kurta Law Can Help

If you worked with William Loberg and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.